Allergan Licenses MEDI2070, As AstraZeneca Continues Non-Core Exits
Continuing its strategy to exit non-core activities, AstraZeneca's licensed Allergan global rights to its IL-23 monoclonal antibody in Phase IIb testing for moderate-to-severe Crohn’s disease and ready for Phase II studies in ulcerative colitis. Analysts say the deal makes sense for both parties.
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While AbbVie said its $63bn purchase places little value on Allergan's R&D pipeline, the companies have 62 drugs in clinical development with 38 in Phase II and III or filed with regulators, including new indications for approved products.
Biopharma companies closed out 2016 with $9.6 billion in financing, the strongest quarter of the year. M&A deals reached $12.2 billion in value, led by Lonza's takeover of Capsugel; most of the fourth quarter's largest partnerships were built around innovative platforms in antibodies, peptides and gene therapy.
AstraZeneca concludes week of four out-licensing transactions by selling US rights to Toprol XL to Aralez and ex-US rights to Rhinocort Aqua to J&J. Molecular Partners gets back rights to an IL-13/IL-17 inhibitor for pulmonary indications after a 2011 deal with Janssen unravels.